Pan American Energy (PAE) plans to invest USD1.4 Billion in Argentina

Argentina: PAE is planning to invest USD1.4 billion in Argentina, out of which a certain portion would be spent on Cerro Dragón oil field located in the San Jorge Gulf basin of the southern province of Chubut. The company had deemed Cerro Dragón as their main assets in Argentina with an oil output of 98,000 barrels per day (bpd) in 2014 and the third largest gas producer in the country.

TechSci Research finds out that the increasing upstream, midstream and downstream applications, expanding city gas distribution and replacement of aging compressors are some of the other major factors expected to boost the global natural gas compressors market during 2016-2021. With growing technological advancements in the recovery of natural gas through unconventional means, which include shale gas, synthetic coal-to-gas, coalbed methane and tight gas, huge demand for natural gas compressors is anticipated to be registered across the globe over the next five years.

According to a released report of TechSci Research, “Global Natural Gas Compressors Market By Technology, By Application, By Region, Competition Forecast and Opportunities, 2011 - 2021”, the global natural gas compressors market is anticipated to cross USD5.5 billion by 2021. In the recent years, majority of the upstream and midstream companies are inclining towards dynamic compressors due their higher efficiency and low maintenance compared to positive displacement compressors.